PPP Loan Data — Mitchell Logging, Brookville, PA
Mitchell Logging is a sole proprietorship located at 916 Milliron Rd in Brookville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Elderton State Bank
Mitchell Logging in Brookville, PA received a Paycheck Protection Loan of $25,300 through Elderton State Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Mitchell Logging's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mitchell Logging reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Debt Interest: $5,300
Business Information - Mitchell Logging in Brookville, PA
916 Milliron Rd
Brookville, PA 15825
NAICS code 113310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Brookville
In the Brookville area, 6 businesses in the "Logging" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $18,273 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Jacob M. Fremer
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 5 employees, 25% higher than Mitchell Logging's reported 4 employees, and received an average PPP loan of $50,291, 99% higher than this company's loan of $25,300.
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